Gandhinagar: During the inauguration of SemiconIndia 2023 at Mahatma Mandir, Prime Minister Narendra Modi announced a significant policy reform to boost the semiconductor sector in India. Technology firms looking to invest in semiconductor manufacturing facilities will now receive 50 percent financial support from the government. PM Modi highlighted the country’s efforts in accelerating the growth of the semiconductor sector and underlined India’s readiness to address global concerns regarding raw materials and manpower.
The conference, with the theme ‘Catalysing India’s Semiconductor Ecosystem,’ aimed to bring together leaders from industry, academia, and research sectors to discuss and collaborate on the advancements in the semiconductor field.
In his speech, Prime Minister Modi emphasized the importance of the ongoing fourth industrial revolution and how it aligns with the aspirations of Indian society. He expressed India’s commitment to collaborate with private sectors that have shown remarkable growth and success, and he acknowledged the nation’s vast talent pool and skilled engineers.
A semiconductor revolution is in the offing in India. Addressing the SemiconIndia Conference 2023. https://t.co/KhzIyPyxHt
— Narendra Modi (@narendramodi) July 28, 2023
To further strengthen the semiconductor sector, the government has taken initiatives like the approval of the National Quantum Mission and the introduction of semiconductor courses in over 300 colleges, with a target of producing more than 100,000 design engineers within the next five years.
PM Modi also highlighted the successful collaboration with private players in various sectors, such as space and geospatial, which has resulted in significant achievements.
The SemiconIndia 2023 conference provided a platform for industry giants like Foxconn, Micron, AMD, IBM, Marvell, Vedanta, LAM Research, NXP Semiconductors, and STMicroelectronics to showcase India’s progress in establishing a competitive global semiconductor manufacturing and design hub. The increased incentive under the Semicon India Programme was also mentioned, indicating the government’s commitment to supporting the semiconductor sector’s growth and development in the country.